Total amount raised
$69 Million
Latest funding date
11/1/2021
Location
Upbound has raised funding over two rounds, with the latest being a Series B round led by Altimeter Capital and supported by investors like Titanium Ventures and Google Ventures. The platform offers intelligent control planes based on Kubernetes and Crossplane, designed to provision, operate, and adapt infrastructure for both human and AI agents.
Keep reading to explore the intricacies of Upbound's fundraising journey and the investors backing this innovative platform.
What Is Upbound?
Upbound is an infrastructure management platform that runs, scales, and optimizes services across multiple cloud environments. The company operates in the industries of Cloud Computing, Information Services, Information Technology, and Software.
Founded in Seattle, Washington, Upbound has an employee count of 11-50. The platform is designed for the AI era, providing intelligent control planes based on Kubernetes and Crossplane to manage AI-native infrastructure.
How Much Funding Has Upbound Raised?
- Series A
- Amount Raised: USD 9,000,000
- Date: May 2018
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Series B
- Amount Raised: USD 60,000,000
- Date: November 2021
- Lead Investors: Altimeter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global go-to-market efforts, accelerate product development, and enhance services and support offerings.
Total Amount Raised: USD 69,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is a venture capital firm that led Upbound's Series B funding round. The firm is known for its strategic investments in technology companies.
- Investment Focus Areas: Technology, Cloud Infrastructure, Software.
- Notable Investments: Snowflake, Confluent, Unity Technologies.
- Google Ventures (GV)
- Details: Google Ventures, now known as GV, is the venture capital arm of Alphabet Inc. It participated in Upbound's Series A and Series B funding rounds.
- Investment Focus Areas: Cloud Computing, Artificial Intelligence, Enterprise Software.
- Notable Investments: Uber, Slack, Stripe.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on technology startups. It participated in Upbound's Series B funding round.
- Investment Focus Areas: Cloud Computing, Artificial Intelligence, Data Management.
- Notable Investments: Cloudera, Red Hat, MongoDB.
- Telstra Ventures
- Details: Telstra Ventures is a venture capital firm that invests in technology companies. It participated in Upbound's Series B funding round.
- Investment Focus Areas: Cloud Computing, Telecommunications, Technology.
- Notable Investments: Box, DocuSign, CrowdStrike.
What's Next for Upbound?
Upbound stands at the cusp of significant opportunities, driven by its recent $60 million Series B funding. The company aims to expand its global market presence and accelerate product development, leveraging the growing adoption of Kubernetes and cloud-native technologies. This expansion is bolstered by a 10x quarter-over-quarter revenue growth, indicating a robust market demand for its solutions.
Future fundraising opportunities appear promising, given the strong backing from investors like Altimeter Capital and GV. As Upbound continues to innovate and integrate its Universal Control Plane into enterprise software pipelines, additional investment rounds could further fuel its growth. However, the company may face challenges such as intense competition and the need to maintain seamless integration across diverse cloud-native tools.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Upbound and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
